GreatAmerica Leasing, ASCII Group Partner to Help Partners with Capital Crunch
Managed service providers, system integrators and other solution providers belonging to the ASCII Group recently got their hands on a new financial lifeline thanks to the industry association's partnership with GreatAmerica Leasing. Together the two began offering in October a new suite of leasing and financial options for partners belonging to the group.
According to Marty Klees, senior vice president and general manager of GreatAmerica Communications and Data Group, ASCII community members will be able to team up with the financial group for services such as its Life-Cycle Financing program, a spectrum of services that includes private label leasing, standard leasing and customized programs
"ASCII members will be able to upgrade and update the network infrastructure of their customers using customer friendly contracts and payment structures," Klees says.
Based in Iowa, the firm already worked with industry group CompTIA in a similar partnership. With a strong reputation in the IT market, the company seemed a natural fit according to some ASCII members who have already worked with it.
"We have used leasing in our business model for many years and we have closed many deals that wouldn’t have happened without financing," says Brian Gregory of Network Innovations in Olathe, KS. GreatAmerica (has) great tools that are easy to use and the process goes smoothly every time without our intervention."
As many businesses dig in to weather the continually dragging economic conditions, leasing and financing equipment may be an important way for the channel to help them keep their technology infrastructure up to date. According to a new report out from the Equipment Leasing and Finance Association in October, U.S. businesses originated $7.1 billion in new loans, leases and lines of credit in September, up from $5.7 billion in August.
While those numbers reflect leases for every kind of equipment under the sun, ASCII executives report that the group's 2,000-strong membership has been offering more leasing options lately, thus the new partnership.
"More of our members are starting to offer leasing options to their customers, so we needed an experienced partner who would have the confidence of our membership," says Doug Young, COO and senior vice president of the industry group.